NH retailers cautious about economy

CONCORD -- The Retail Merchants Of New Hampshire has sent legislators a caution on the state of economy and how tenuous the retail business continues to be.

In putting forth its legislative briefing, RMANH noted that “Consumers are viewing the economy with cautious optimism, expecting a slow-growing economy” said Nancy Kyle, president of the Retail Merchants Association, “However more people now than in 2010 say they will decrease overall spending. People are focused on paying down debt, meaning in the near future we don’t expect substantial upswings in consumer spending. Therefore the retail industry is still fragile, and any additional costs through mandates and regulations on an industry which typically operates on very thin profit margins will mean reductions in other areas, likely in employment through reduced hours or reduced opportunities for new hires.”

Kyle noted that “NH’s tax-free shopping is but one component of a healthy retail industry in New Hampshire, one that employs far more workers age 24-30 than any other sector, and is one of the top sectors of total employees with a post-secondary degree. For many young people, retail jobs provide the first insight into business basics, including marketing, inventory management and sales. Creating opportunities for New Hampshire citizens to enter the retail trade is a priority for RMANH and should be a priority for New Hampshire policy-makers.”